At Fortress Property Solutions whether you are a first-time buyer or an experienced buyer of property, we will guide you through every step of the process to ensure that your experience is as smooth and straightforward as possible.
Below is our ten-step guide for successfully buying your home:
Step 1 Arranging your mortgage
Before you begin your property search, it is advisable to arrange your finances and, if required, have a mortgage agreed on in principle. This will confirm how much money you will have to fund the purchase, which will ultimately influence your property search. At Fortress Property Solutions we have access to the entire market, as well as exclusive deals and rates to help find you the best mortgage available.
Step 2 Register your interest
Register your requirements and interest with us either by calling our branch, phoning, or emailing us. You can discuss your property requirements with one of our knowledgeable agents.
Step 3 Finding the right property
Once we have a clear understanding of your requirements we will notify you of properties that match your criteria. We can also keep you constantly up-to-date when the latest properties become available.
Step 4 The key to successful viewings
In order to secure a property, we recommend an early viewing. We will accompany you throughout so that we are on hand to answer any questions immediately and advise where necessary.
Step 5 Instructing a legal representative
It is important to instruct an efficient and experienced legal representative to act on your behalf. We will be happy to recommend a legal representative if required.
Step 6 Making an offer
Once you have identified a suitable property we will put your offer forward to the seller both verbally and in writing stating any special conditions of the offer. You may need to demonstrate if requested, that you are able to proceed (e.g. provide evidence of your mortgage agreed in principle).
There are no legal obligations on either side until contracts are signed.
Step 7 Offer agreed
Once your offer is accepted we will do the following:
- Prepare a memorandum of sale
- Write to all parties to confirm the agreed price
- Ask you to confirm your legal representative’s and mortgage details
- You will now need to instruct your legal representative to proceed with the conveyancing process and your mortgage lender or broker to proceed with your application.
Step 8 Conveyancing
As part of the purchase process your legal representative will do the following:
- Raise any inquiries on receipt of the draft contract from the seller’s solicitor
- Request their own local and other searches
- Ensure that your interests and those of any mortgage lender are protected
- Agree on a date for exchange of contracts
We will proactively manage the progress of your purchase, advising you throughout the process.
There are no legal obligations until contracts are signed.
Step 9 Valuation and mortgage offer
If you are purchasing with the aid of a mortgage, a valuation of the property will be booked by a surveyor on behalf of your mortgage lender to advise them on the property’s value.
After the mortgage valuation report is received, a formal mortgage offer will be sent to you and your legal representative which you will need to sign before it is returned.
Step 10 Exchange of contracts
Exchange of contracts occurs when all inquiries have been confirmed and agreed upon and any mortgage offer has been secured.
Once the contract has been signed by both parties the deposit (usually 10% of the purchase price) will be telegraphically transferred or paid in the form of a banker’s draft from your legal representative to the seller’s legal representative
The completion date is then set by mutual agreement.